Tex. Fin. Code § 156.2044 · Subchapter C. RESIDENTIAL MORTGAGE LOAN COMPANY LICENSES AND REGISTRATION
QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: INDEPENDENT CONTRACTOR LOAN PROCESSOR OR UNDERWRITER COMPANY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) To be issued an independent contractor loan processor or underwriter company license under this chapter, an applicant must:
(1) submit a completed application together with the payment of applicable fees through the Nationwide Mortgage Licensing System and Registry;
(2) designate control persons for the company through the Nationwide Mortgage Licensing System and Registry;
(3) designate an individual licensed as a residential mortgage loan originator under Chapter 157 as the company's qualifying individual; and
(4) not be in violation of this chapter, a rule adopted under this chapter, or any order previously issued by the commissioner to the applicant.
(b) An independent contractor loan processor or underwriter company or a sponsored residential mortgage loan originator is not authorized to originate residential mortgage loans with a license issued under Subsection (a).
(c) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 160, Sec. 87(5), eff. September 1, 2013.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 16, eff. September 1, 2011.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 23, eff. September 1, 2013.
Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 24, eff. September 1, 2013.
Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 87(5), eff. September 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.156.htm
- Text hash
- sha256 ee2f37e486ace46b177d21b1bc18d3e2a711e02db0284bff76d986f73bf507a1
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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